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Verso Announces Capital Return Targets; Provides Additional Detail on Allocation of Net Proceeds from Pixelle Transaction

Jan 16, 2020 - PR Newswire

PR Newswire

 Verso Corporation (NYSE: VRS) ("Verso" or the "Company") today announced that promptly following the consummation of the proposed sale of Verso's Androscoggin and Stevens Point mills to Pixelle Specialty Solutions (the "Pixelle Transaction"), the Verso Board intends to return net proceeds from the Pixelle Transaction to stockholders in an aggregate amount of up to $282 million and not less than $225 million.

The following charts illustrate the breakdown of the estimated...